Considering the forum we're in, does power consumption
really matter? No, the imacs are best known for their super high resolution screens that will tax the life out of any subpar GPU. It would be better for Apple to redesign the case for better thermals, then it would be for Apple to admit defeat and go with a mobile GPU.
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I don't know if you've noticed but Apple use 'mobile' Pro SKU GPUs for their iMacs to hit a thermal target and have done so for years. Even integrated Intel GPUs will display a 4k desktop and
one Apple SKU used Iris Pro 6200 to run a 4k panel. And power consumption does matter because less power consumed = smaller, thinner, less noisy enclosure. There - I said the Jony Ive word that must not be spoken
Nobody's gaming on an iMac so that doesn't really matter, with GPU mainly being used to render video better in real terms.
Having said that, RDNA2 is coming at the end of the year and apparently has a better performance per watt than RDNA by 50%. RDNA is the architecture driving the AMD Pro 5300 and 5500 in the MacBook Pro 16" and in the PC desktop 5500, 5600, and 5700XT GPUs.
RDNA2 - 'Big Navi' is being used in PS5 and Xbox Series X and is a quantum leap in performance per watt, seemingly able to match the Nvidia 1080 in horsepower while sipping 'mobile' watts. Those consoles won't be space heaters so there must be something in these rumours.
In the PC range you'd expect those to start with a 6 - ie 6300 Pro, 6500 Pro, 6600, 6700, etc.
If true this is exactly what Apple would want to put into an iMac that has mini LED and Comet Lake/Rocket Lake CPUs next year. What a super-cycle upgrade a 2021 iMac must be. I'm not talking to the folks on this thread who must be salivating at the thought of being able to play games - video editing at a decent pace on a civilised machine would be fine for me.
If the RDNA2 information is true then Nvidia have indeed been resting on their laurels and, like Intel, may have to scramble to catch up as AMD hit another home run.
Let's swing back to ARM though. The topic in discussion here is iMac - and a late 2021 iMac could end up being ARM powered and the thickness of an iPad. While Apple hasn't proven to be able to scale ARM up to desktop class TDPs (yet) I imagine that a super light desktop would be interesting to some (fully expecting the performance wizards to jump on this).